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Social Media Graphics on Federal Taxes

The major new tax law enacted in December 2017 is fundamentally flawed and will require a basic restructuring. It delivers windfall gains to wealthy households and profitable corporations, shrinks revenue at a time when the nation will require more revenue, and creates many new tax loopholes, shelters, and other opportunities to “game” the system. These social media graphics highlight key problems with the new law, as well as other federal tax policy issues.

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Three Fundamental Flaws in the New Tax Bill…
New tax law is heavily tilted toward wealthy and corporations
2017 Tax Law Delivers Large Tax Cuts to Most Well-Off
2017 Tax Law's Tax Cuts For Top One Percent Three Times Larger Than Tax Cuts for Bottom 60 Percent
Income Has Been Shifting from Working Class to Wealthy
Cutting Corporate Tax Rates Mostly Benefits Those At the Top
2017 Tax Law's Pass-Through Deduction Favors Top 1 Percent
2017 Tax Law's Pass-Through Deduction Heavily Tilted Toward Wealthy
Audit Rate for High-Income Individuals And Large Corporations Continue to Decline Sharply
House GOP's 2.0 Tax Plan Delivers Largest Tax Cuts to Most Well-Off
Under 2017 Tax Law, Fewer Than 1 out of Every 1,000 Estates Will Owe Federal Estate Tax
Low-Income Working Families Get Little from 2017 Tax Law's Child Tax Credit Increase
2017 Tax Law Prioritizes Wealty Heirs Over Kids in Working Families
Proposed Earned Income Tax Credit Expansion Would Help Low- and Moderate-Income Working Families More Than 2017 Tax Law
2017 Tax Law Pays for Tax Cuts for Millionaires by Cutting Health Care
New Law Ignores Need for Revenue
Population Will Age in Coming Years, Raising Costs for Social Security, Medicare, Medicaid
Federal Revenue Needs Will Increase As Spending Needs Grow
New Law Is Filled with Tax Loopholes, Shelters, and Opportunities to Game the System
New Pass-Through Deduction Creates Larger Loophole for Certain High Earners
Under 2017 Tax Law, High-Income Investors Can Use Corporations to Defer Their Taxes for Decades
2017 Tax Law Gives Massive Tax Advantage to Foreign Profits of U.S.-Based Multinationals
Additional Tax Shareables
Benefits of Indexing Capital Gains for Inflation Would Flow Almost Exclusively to the Top
Earned Income Tax Credit Does Little to Offset Federal Taxes for Childless Workers
New Tax Law Doubles Estate Tax Exemption, Giving Each of the Wealthiest Estate A Tax Cut Worth More Than Pell Grants for 1,100 Students
Before New Tax Law, Only 80 Small Farms or Businesses Faced Estate Tax
Under New Tax Law, Number of Estates Facing Estate Tax Will Continue to Plummet
The Brown-Khanna EITC expansion would give a working class couple with one ch ild an an income of $31,3000 an EITC boost of just over $3,100.
Brown-Khanna EITC Expansion Would Increase Take-Home Pay of Working-Class People Across Occupations
Incomes Have Stagnated Across Working Class
Working-Class Families Are Left Behind After Decades of Unequal Income Growth
New Law's Tax Cuts for Millionaires are Paid for by Cuts to Health Care from Individual Mandate
Repeal of the Individual Mandate Will Drive Up Uninsured Rate
Priorities: 2.0 Tax Plan
Priorities: House GOP Unveiled $2.8 Trillion in New Tax Cuts Tilted Towards the Wealthy The Same Week That the Census Reported Nearly 1 in 6 Children Live in Poverty
Priorities: House GOP Unveiled $2.8 Trillion in New Tax Cuts Tilted Towards the Wealthy in the Same Week that the Census Reported 1 in 8 Americans Live in Poverty
2.0 Tax Plan Gives Millionaires an Average Tax Cut of $47K. $47K Could Pay for Job Training for About 9 Workers.
2.0 Tax Plan Gives Millionaires an Average Tax Cut of $47K. $47 K Could Pay for Providing Pell Grants for About 14 Students.
2.0 Tax Plan Gives Millionaires an Average Tax Cut of $47K. $47 K Could Pay for Child Care for About 6 Children.
2.0 Tax Plan Gives Millionaires an Average Tax Cut of $47K. $47 K Could Pay for Medication-Assisted Treatment for Opioid Use Disorder for About Six People.